CHICAGO
Virgin Hotels, a new four-star lifestyle hotel brand, announced that it purchased the Old Dearborn Bank Building in downtown Chicago. Virgin Hotels will convert the former office building into the Virgin Hotel Chicago, opening in the fall of 2013.
The 27-story Art Deco building, a Chicago landmark designed by C.W. and George L. Rapp Architects in 1928, has significant historic and architectural features that will be restored and recreated. Located at 203 N. Wabash Avenue, at the corner of Wabash and Lake, the property is in the heart of Chicago’s Loop.
The new hotel will have 250 guest rooms and feature meeting spaces, restaurants, lounges and other public areas that reflect the Virgin brand’s stylish and functional legacy.
“This transaction is a first step towards our goal of building a portfolio of hotels that anticipate and respond to the needs of today’s travelers and set a new standard for the industry,” said Anthony Marino, Managing Partner, Leisure and Hospitality, Virgin Group and head of Virgin Hotels. “The Virgin Hotels team is focused on finding the best locations and strongest partners to bring Virgin’s product vision to life for our 60 million customers around the world."
